a bicycle has a listed price of $571.98 before tax. if the sales - tax rate is 7.5%, find the total cost of…

a bicycle has a listed price of $571.98 before tax. if the sales - tax rate is 7.5%, find the total cost of the bicycle with sales tax included. round your answer to the nearest cent, as necessary.

a bicycle has a listed price of $571.98 before tax. if the sales - tax rate is 7.5%, find the total cost of the bicycle with sales tax included. round your answer to the nearest cent, as necessary.

Answer

Explanation:

Step1: Convert tax rate to decimal

The sales - tax rate is 7.5%, so as a decimal it is $0.075$.

Step2: Calculate the amount of tax

The amount of tax is the listed price times the tax rate. Let the listed price $P = 571.98$. The tax amount $T=P\times0.075 = 571.98\times0.075=42.8985$.

Step3: Calculate the total cost

The total cost $C$ is the sum of the listed price and the tax amount. So $C = 571.98+42.8985 = 614.8785$.

Step4: Round to the nearest cent

Rounding $614.8785$ to the nearest cent gives $614.88$.

Answer:

$614.88$